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BlackRock has lowered the minimum threshold for in-kind conversions of its iShares Bitcoin Trust ETF (IBIT) from $25 million to $1 million, facilitating over $5 billion in conversions.
Robbie Mitchnick, Head of Digital Assets at BlackRock, stated that the move aims to attract more family offices and high-net-worth individual investors, shifting Bitcoin from private wallets into regulated fund structures. Since the conversion process was first launched, IBIT has facilitated over $5 billion in physical Bitcoin conversions, up from $3 billion when Bloomberg first reported in October last year. Competitor Bitwise has also lowered its minimum threshold from $100 million to $3 million.
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